EUR/USD: Bulls may find better risk-reward at 1.2755

The 200-day MA has been supporting the EUR/USD for a few sessions now but that probably means that there will be plenty of stops lined up below there as well. A quick look at the 4-hr chart shows some excellent support at 1.2755, where a 61.8% retracement and prior low come together. With EUR/USD opening the week on a softish note, bulls might find better risk-reward in waiting for the stops to get triggered and then look for a 100 pip bounce.

  1. Good afternoon, Sean!
    From the beginning of week you and successful trade. At support EUR now see on 1,2751 and 1,2487. Therefore wanted to buy EUR/USD from the area 1,2733, I think that under support 1.2751 there are stop orders, most likely they will be executed, but is strong below 1, 2700 won’t pass. Resistance on EUR are on 1.2956, 1.3067 and 1.3170, purchase I count for the purpose of 1,3067. But there I will look, as events will develop. I will stop a loss in case of pass and than fixing of the price is lower 1,2670, approximately there. How your opinion for euro Sean? Thanks!

  2. Hi Serga, good to hear from you again. Looks like your trading is improving as that sounds like a very professional strategy approach. I like the sound of it and the risk/reward potential. Let’s see what it looks like when it gets down there. Personally I’m not too sure on whe next for EUR, plenty of range trading I’d say but I am running small AuDUSD and cable shorts but with no strong conviction at moment.

  3. Sean, how your professional opinion according to the solution of RBA tomorrow? I think that the rate remains on a place, reduction of a rate of RBA sees possible on December 4.

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